Astera Labs, Inc. (NASDAQ:ALAB) Shares Acquired by Legal & General Group Plc

Legal & General Group Plc lifted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 145.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,518 shares of the company’s stock after acquiring an additional 35,285 shares during the period. Legal & General Group Plc’s holdings in Astera Labs were worth $7,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ALAB. Trek Financial LLC acquired a new position in Astera Labs in the fourth quarter valued at about $2,029,000. Polymer Capital Management HK LTD acquired a new stake in Astera Labs in the 4th quarter valued at approximately $2,656,000. Federated Hermes Inc. purchased a new stake in Astera Labs in the fourth quarter valued at approximately $19,205,000. Himension Capital Singapore PTE. LTD. acquired a new position in Astera Labs during the fourth quarter worth $868,000. Finally, MIG Capital LLC purchased a new position in shares of Astera Labs during the fourth quarter worth $356,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALAB. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Craig Hallum lifted their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a research report on Tuesday, February 11th. Finally, Citigroup reduced their target price on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $109.25.

Astera Labs Trading Up 0.3 %

Shares of ALAB opened at $58.96 on Friday. The firm has a market capitalization of $9.56 billion and a P/E ratio of -34.08. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The stock’s fifty day simple moving average is $69.23 and its 200 day simple moving average is $90.85.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Sell-side analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at Astera Labs

In other news, Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the transaction, the director now directly owns 444,863 shares of the company’s stock, valued at approximately $28,190,968.31. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 633,990 shares of company stock valued at $54,235,012.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.